Today’s Stock Alert: Could Knight Transportation Skyrocket Even More? The Stock Just Made 52-Week High

November 7, 2016November 7, 2016Adrian Mccoy

The stock of Knight Transportation (NYSE:KNX) hit a new 52-week high and has $37.03 target or 21.00% above today’s $30.60 share price. The 9 months bullish chart indicates low risk for the $2.45 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $37.03 price target is reached, the company will be worth $514.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 476,142 shares traded hands. Knight Transportation (NYSE:KNX) has risen 16.53% since April 5, 2016 and is uptrending. It has outperformed by 14.57% the S&P500.

Knight Transportation (NYSE:KNX) Ratings Coverage

Out of 17 analysts covering Knight Transportation (NYSE:KNX), 5 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 29% are positive. Knight Transportation has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup with “Neutral” on Monday, July 11. RBC Capital Markets maintained Knight Transportation (NYSE:KNX) on Thursday, October 22 with “Sector Perform” rating. The stock has “Equal-Weight” rating given by Barclays Capital on Thursday, April 7. The firm has “Outperform” rating by Cowen & Co given on Friday, December 18. The firm earned “Market Perform” rating on Wednesday, January 13 by William Blair. The stock of Knight Transportation (NYSE:KNX) has “Sector Perform” rating given on Thursday, April 21 by RBC Capital Markets. As per Tuesday, June 21, the company rating was downgraded by Bank of America. On Monday, March 14 the stock rating was downgraded by Avondale to “Market Perform”. The rating was maintained by Cowen & Co with “Outperform” on Thursday, October 22. The rating was downgraded by Longbow on Friday, December 4 to “Neutral”.

According to Zacks Investment Research, “KNIGHT TRANSPORTATION INC. is a short to medium-haul, dry van truckload carrier operating in the western region of the United States. Co. transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities.”

Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.44, from 1.13 in 2016Q1. The ratio increased, as 16 funds sold all Knight Transportation shares owned while 40 reduced positions. 16 funds bought stakes while 72 increased positions. They now own 69.89 million shares or 0.04% more from 69.86 million shares in 2016Q1.
New York State Teachers Retirement has 0.01% invested in the company for 173,233 shares. Fenimore Asset Mngmt, a New York-based fund reported 161,720 shares. Granahan Investment Mgmt Ma reported 161,780 shares or 0.16% of all its holdings. The California-based Lpl Ltd Liability Corporation has invested 0% in Knight Transportation (NYSE:KNX). Bluecrest Management has 63,315 shares for 0.07% of their US portfolio. Alphaone Services Ltd Liability Company holds 1.08% of its portfolio in Knight Transportation (NYSE:KNX) for 110,204 shares. Citigroup reported 765 shares or 0% of all its holdings. New York State Common Retirement Fund owns 87,200 shares or 0% of their US portfolio. Proshare Advisors Limited Com holds 9,557 shares or 0% of its portfolio. The Massachusetts-based Fmr Lc has invested 0% in Knight Transportation (NYSE:KNX). Comerica National Bank last reported 61,446 shares in the company. Ladenburg Thalmann Financial Services Incorporated has 0% invested in the company for 448 shares. Parametric Port Associates Ltd Liability Corp accumulated 173,317 shares or 0.01% of the stock. Commercial Bank Of New York Mellon last reported 4.92 million shares in the company. Stifel Corporation holds 109,539 shares or 0.01% of its portfolio.

Insider Transactions: Since May 11, 2016, the stock had 0 buys, and 4 insider sales for $37.76 million net activity. Yu Wayne had sold 3,200 shares worth $94,688. Another trade for 300,000 shares valued at $8.51 million was sold by KNIGHT GARY J. On Wednesday, May 11 the insider MADDEN G D sold $26,673. KNIGHT KEVIN P sold $14.43 million worth of Knight Transportation (NYSE:KNX) on Wednesday, August 3.

More news for Knight Transportation (NYSE:KNX) were recently published by: Seekingalpha.com, which released: “Knight Transportation (KNX) Q3 2016 Results – Earnings Call Transcript” on October 27, 2016. Businesswire.com‘s article titled: “Knight Transportation, Inc. Announces Participation in Upcoming Conferences” and published on October 18, 2016 is yet another important article.

KNX Company Profile

Knight Transportation, Inc., incorporated on August 31, 1989, is a well-known provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Firm operates through two divisions: Trucking and Logistics. The Firm provides a range of truckload and logistics services through its nationwide network of service centers, truckload tractor fleets and its contractual access to third-party capacity providers. The Firm operates primarily in the United States with minor activities in Canada and Mexico.